ShibAI releases an open letter to its community, explaining the incident and urging for support against the copycat project, AIShiba, which has caused confusion and damage to their reputation.
ShibAI Open Letter
Shib AI has released an open letter, in the form of a Twitter thread, to its community regarding a recent incident involving a new project named AiShiba, which has used the same token ticker as ShibAI.
AiShib was listed on the MEXC exchange before ShibAI, despite its engagement and authenticity being called into question by ShibAI.
The founder of ShibAI has explained in the letter that the team had been working hard on their project since the end of February, building their community, developing their graphic identity, and hiring developers to create an AI chatbot on their website using the Chatgpt API. The chatbot would be fine-tuned for crypto and financial data, providing users with better results, and was named Shibintelligence.
However, ShibAI’s plans were impacted when two new projects, $PEPE and $AIDOGE, emerged about a week ago. On April 17th, AIShiba was founded on social media, and within 24 hours, the project had gained 50,000 fake followers, 20,000 fake DC members, and fake retweets, likes, and engagement.
Shib AI believes that the project is a scam, parasitic on the hype surrounding AIDOGE, and immediately copied ShibAI’s ticker – $SHIBAI – because there were already many tweets about it, and they were trying to steal from ShibAI.
The situation escalated when the MEXC exchange listed AIShiba before ShibAI, despite ShibAI’s community being in existence for two months, while AIShiba was just founded. This caused panic among Shib AI’s team as people started buying the token SHIBAI on MEXC, even though Shib AI had not issued any tokens. MEXC also shared AIShiba on Twitter, where they have 800,000 followers, and the project gained momentum, leaving Shib AI unsure how to deal with it.
ShibAI’s team considered changing the ticker and renaming themselves, but found out that all similar tickers were already taken. Changing the project’s name was not an option either, as it was in the process of being verified on Twitter, and it was in the logo and all graphics.
ShibAI decided to launch its project on the BNB network within 24 hours, apply for listings on CoinGecko and CoinMarketCap, and hope that they would list them first because they required a website that AIShiba did not have. However, within a few hours, AIShiba launched a website and was listed on these platforms.
ShibAI launched their project on April 20th, but it was not very successful, with many people writing to them accusing them of being a scam, and a copy of AIShiba. ShibAI urged their community to look at their first posts, their website, the date their Discord was founded, and their graphics to see that they were the opposite of AIShiba.
ShibAI hopes that their community will support them and help them fight against AIShiba, which has caused confusion and damage to ShibAI’s reputation.
The team has outlined that they are bridging the worlds of artificial intelligence and cryptocurrency to create a unique, dynamic, and innovative memetoken. The project’s mission is to revolutionize the way people interact with memes and cryptocurrencies, elevating the user experience to new heights.